Miscued Record For Ontario’s Market In February

The real estate professionals in the Southwest Ontario markets of Grey Bruce Owen Sound’s latest sales figure for last month narrowly missed a new record, although it was a close call.

The 116units sold were just below the record for 2006, despite being 1.2 per cent lower than February 2016’s total. Sales for a year-to-date decline to 265 year-over-year by 6.4 per cent.

Due to the harsh crash in inventory, sales was under pressure as a result of that, after the 42 per cent fall, recorded as the lowest level since the 1980’s. For almost thirty years, new listings were down by 22.5 per cent from February last year.

An increase of 2.2 per cent for the average price of a home at $268,076 was reported by the Realtors Association of Grey Bruce Owen Sound, with a year-to-date average rise of 4.5 per cent to $262,815.